Q36
Cost management technique which specially addresses strategic issues is classified as
A.
address management
B.
issue management
C.
strategic cost management
AnswerD.
managerial cost
Answer: Option C
Solution
Answer: Option C
Solution:
Cost management technique which specially addresses strategic issues is classified as strategic cost management. Strategic cost management is the process of reducing total costs while improving the strategic position of a business. This goal can be accomplished by having a thorough understanding of which costs support a company's strategic position and which costs either weaken it or have no impact.